Payments in gross Clause Samples
The "Payments in gross" clause requires that all payments made under the agreement are to be made in full, without any deductions or withholdings for taxes, fees, or other charges. In practice, this means that if any taxes or deductions are required by law, the paying party must increase the payment amount so that the receiving party receives the full amount specified in the contract. This clause ensures that the recipient is not disadvantaged by mandatory deductions, thereby allocating the risk and responsibility for such deductions to the payer and providing certainty about the net amount to be received.
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Payments in gross. All payments which a Transaction Party is required to make under any Material Document must be:
(a) without any set-off, counterclaim or condition; and -------------------------------------------------------------------------------- PAGE 13 Payment Funding Facility
(b) without any deduction or withholding for any Tax or any other reason, unless the Transaction Party is required to make a deduction or withholding by applicable law.
Payments in gross. 6.1 All moneys received by You for the Customer‟s account, whether received:-
6.1.1 from the Customer or from any person;
6.1.2 from the realisation of any security held by You; or
6.1.3 for the purpose of reducing the amount of the moneys and liabilities owing to You; may be treated by You as payments in gross, that is, You do not have to allocate any part of the moneys received by You towards the payment of any specific item of the moneys and liabilities owing to You even if that part of the moneys was meant for payment towards a specific item of such moneys and liabilities.
6.2 All securities held by You, whether at present or later, may be treated by You as security for all the moneys and liabilities whatsoever owing to You by the Customer. We will not make or try to make any claim whatsoever on those securities, any part of those securities, or any interest in those securities, unless and until We have paid to You all the moneys and settled with You all the liabilities which We have guaranteed to You under this Guarantee and unless and until You have been paid in full in respect of all the moneys and liabilities owing to You.
Payments in gross. All payments which an Obligor is required to make under any Finance Document must be without:
(a) any set‑off, counterclaim or condition; or
(b) any deduction or withholding for any Tax or any other reason unless the Obligor is required to make a deduction or withholding by applicable law including FATCA.
Payments in gross. All monies received from or on account of the Borrower or from the Assignor or from any other person or persons or estate or from the realisation of this Assignment or any security or otherwise for the purpose of being applied in the reduction of the account of the Borrower or of the monies covenanted to be paid under this Assignment shall be treated for all purposes as payments in gross and not as appropriated or attributable to any specific part or item of the said monies covenanted to be paid even if appropriated thereto by the Lender. All security now or at any time hereafter held by the Lender shall be treated as security for the said general balance. The Assignor, its/his estate or any other person or persons deriving or claiming title under the Assignor shall have no claim to such security or to any part thereof or any interest therein unless and until the Lender has received the full amount owing to the Lender by the Assignor.
Payments in gross. All payments in respect of a Loan must be made without:
(a) any set-off, counterclaim or condition; and
(b) any deduction or withholding for any Tax or any other reason, unless the relevant Borrower is required to make a deduction or withholding by applicable law.
Payments in gross. All payments which a Transaction Party is required to make under any Material Document must be:
(a) without any set-off, counterclaim or condition; and -------------------------------------------------------------------------------- Freehills Sydney\004679447 Printed 25 August 2004 (12:36) PAGE 13 Payment Funding Facility Agreement - SMHL Global Fund No. 7
(b) without any deduction or withholding for any Tax or any other reason, unless the Transaction Party is required to make a deduction or withholding by applicable law.
Payments in gross. All monies received from or on account of the Customer or from the Assignor or from any other person or persons or estate or from the realisation of this Assignment or any security or otherwise for the purpose of being applied in the reduction of the account of the Customer or of the monies covenanted to be paid under this Assignment shall be treated for all purposes as payments in gross and not as appropriated or attributable to any specific part or item of the said monies covenanted to be paid even if appropriated thereto by the Bank. All security now or at any time hereafter held by the Bank shall be treated as security for the said general balance. The Assignor, its/his estate or any other person or persons deriving or claiming title under the Assignor shall have no claim to such security or to any part thereof or any profit therein unless and until the Bank has received the full amount owing to the Bank by the Assignor.
Payments in gross. All payments which the Guarantor is required to make under this Agreement must be made to the Lender to an address or account in Australia directed by the Lender or the Administrative Agent from time to time.
Payments in gross. All payments which a Transaction Party is required to make under any Material Document must be:
(a) without any set-off, counterclaim or condition; and
(b) without any deduction or withholding for any Tax or any other reason, unless, the Transaction Party is required to make a deduction or withholding by applicable law.
Payments in gross. All dividends, compositions and moneys received by the Landlord from the Assignee or any other person which are capable of being applied by the Landlord in satisfaction of the liabilities expressed to be guaranteed under this deed, will be regarded for all purposes as payments in gross, and will not prejudice the right of the Landlord to recover from the Guarantor the ultimate balance which, after receipt of such dividends, compositions and moneys, may remain owing or expressed to be owing to the Landlord.